Friday, December 7, 2007

12/07/07 - Insurance for Your Products


This issue: saving your company money…

1. Health Freedom Blog update
2. Insurance for your products
3. Bayer told to tone down vitamin claims
5. Coming next year: improved format for the VL Update eMemo!

1. Vitamin Lawyer Health Freedom Blog & Factoids
New Posting -

eAlerts – STOP FORCED VACCINATION! If you are on the Natural Solutions Foundation eAlert list you received an alert about the emergency health freedom advocates’ meeting in Tiburon CA I attended. If you want to stay current on health freedom issues, you really need to sign up to the eAlert list - please go to: and sign up today! Better, please tell everyone on your elist to do the same! This list of several hundred thousand purveyors and consumers of natural products and remedies is having a powerful impact in Washington and internationally.

And they’re getting the idea behind The Codex 2 Step:

"Although Codex is not a regulatory body, its decisions are used as a benchmark of discussion should trade disputes arise in the future, and while Codex does not have the same force of law as an EU directive or national legislation, it is used as a reference point for countries that are looking at revising or creating legislation."

For an 8 minute video of me explaining the Codex 2 Step, see:

2. Insurance for your products

Obtaining product insurance has become increasingly difficult as FDA/FTC regulatory oversight has ratcheted up. I’ve worked with one particular agent here in NJ for nearly a decade and many of the Vitamin Lawyer clients have found his services reassuring. Here is the type of information that is needed for the application.

1) Description of all named insured person or entities
2) Financials – latest annual income statement and balance sheet.
3) 5 years of sales/receipts history
4) Product labels & brochures, reflecting ingredients in the products
5) 5 year currently valued company loss runs or “No Known Loss Letter.
6) Expiring program including carrier, limits, deductible, premiums, and term.
7) Does the insured have or plan on having any products containing Organ/Glandular Extracts, Ephedra, Colloidal Silver, Green Tea, Synephrine/Bitter Orange, Kava, Lobelia, Magnolia or Yohimbe products? If so what are the product names, what percentage of their sales is applicable to these products and how many milligrams go in the products? We will need these product names and labels

I have the 8 page application form available; please email me with “Insurance App” in the subject line.

The agent tells me that he spoke with the underwriters. “They are not willing to speculate on the impact [of the new Adverse Event Reporting law that goes into effect on December 22, 2007]. They aren't doing anything [with rates] at the moment, but will be following it over time to determine its impact. … "

3. Bayer told to tone down vitamin claims

December 5, 2007 - The National Advertising Division (NAD) of the Council of Better Business Bureaus is recommending Bayer Healthcare modify or discontinue certain claims surrounding its Vital and Sharp Mind supplement. NAD, the Federal Trade Commission and industry trade associations have been targeting the marketing claims of supplement makers. Because this move involves a large player in the health industry getting its knuckles rapped by a monitoring body, it could send out warning signals to smaller companies about being more careful in marketing their products… NAD found no fault with following its review are that Vital & Sharp Mind "supports memory, mental sharpness, and healthy brain function", as well as that it promotes "memory, concentration, and mental sharpness," and can "keep your mind vital and active." [But] … there was insufficient evidence to support the claim made in a television commercial that Vital & Sharp Mind could assist healthy adults in recalling a list of items that was recited moments earlier… this claim suggests the product can actually assist healthy adults in recalling a list of names that was recited moments earlier. The agency says this level of effectiveness goes beyond the general claim made by Bayer that the product "supports" memory and as such requires further scientific evidence…”

4. Holiday Sale! Vitamin Lawyer Time for Sale…

It’s that time of year when your successful natural product business needs to expense out profits… So, why don’t you prepay The Vitamin Lawyer for consulting time good anytime in 2008? Here’s my special holiday deal: buy two hours at regular rate, $295/hr and get a third hour FREE… that’s a 33% savings! You can reserve as many hours as you’d like. We all know the dollar is tanking… that means all professional fees will be going up this coming year. Lock in 2007 discounted rates now! You can go to my PayPal page, or email me with VL DISCOUNT in the subject line. And have happy holidays; prosperous new year!


5 Upgrading the VL Update eMemo!

Coming next year: this email update system will be replaced by a second, private blog, the Vitamin Lawyer Update Blog, to allow me to keep you up-to-date better than ever! You’ll receive a shorter weekly update email with links to blog articles that will be posted as the information becomes available… more timely information better indexed!

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